Don't ask us to explain how they got to this ranking. Instead, we'll let them breakdown how their formula works:

Our rankings are based on a statistical analysis of self-reported revenue data. We create a statistical model of revenue as a function of team quality (winning percentage, NCAA tournament qualification, etc…) and market potential (conference affiliation, median income, area population, number of students, etc…) and then compare the model's prediction to the self-reported revenues.

Got that?

So if IU isn't No. 1, who is?

A school from the Commonwealth to the south picked up top spot, but it's not who you'd think. Louisville, not Kentucky, is ranked No. 1 in Emory's poll, a repeat of last year's results.